California Real Estate Podcast with Andrea Manroe

The 4 Demands You Should Make to Your Agent

cassidy@getvyral.com (Andrea Manroe) — Fri, 18 Aug 2017 14:29:00 -0700

There are four demands you need to make to your agent when buying a home so you get the home you want and pay the right price for it.

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What four demands should you make to your agent when buying a house?

First, talk to them about price. Make sure they help you understand how they’ll get both the seller and the bank to agree to the offer you’re making on the property you want. It’s important that you go in ahead of time understanding the negotiation phase of the seller’s counteroffer and you understand that the bank has to perform their appraisal and agree that the purchase price of the property is what they’re willing to lend on it.

Make sure they help you find the right house.

Second, make sure they understand your timetable and how soon you need to be out of your current property and into a new one. It can be time-consuming to both sell an old property and buy a new one. Buying a new property means dealing with escrow periods and needing time to both look for a new home and then move into it. Discuss with your agent your plan for how you’re going to work out the logistics of your time in order to move into your new property.

Third, make sure they have good negotiating skills and do a good job explaining the different phases of the negotiation process with both the buyer and the seller.

Finally, make sure they help you find the right house, even if that means you give them permission to tell you the truth—even if it’s something you don’t want to hear. Make sure they listen to what you’re asking for in your “needs” list for your new house and they’re in tune to whatever else you want.

If you have any questions about what demands to make of your agent or you’re thinking of buying or selling a home in San Diego, don’t hesitate to message me or give me a call. I’d love to work with you!

Why the Right Contractor Is Key

cassidy@getvyral.com (Andrea Manroe) — Fri, 4 Aug 2017 12:30:00 -0700

When choosing a contractor, there are a few things you need to consider before making your final call.

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There are a few steps you should take to properly vet a contractor for your remodel project.

First of all, it’s always a good idea to choose a contractor who has been referred to you by a friend or a professional. Looking at that contractor’s prior work can give you a good idea of what the finished results in your own home will look like.

The Internet can also be a great resource for getting to know a contractor and their ability. Do your homework on them by checking out reviews such as the ones on Yelp! or Angie’s List. While you’re checking out their reviews, also look to see if the contractor is part of any contractor associations.

Additionally, make sure you get more than one bid for the project. In fact, you’ll probably want three, or even four, bids before you choose the contractor.

Choose a contractor who has been referred to you by a friend or a professional.

When you do get these bids, make sure the items within them are consistent. Comparing bids that are “apples to apples” will make it easier to choose. Looking at similar bids is the only way to truly see if they are comparable.

Also, when you sign the bid, make sure there is an agreed-upon payment schedule. It also may be worth it to use the same contractor for multiple jobs, since you will already know what to expect from their work.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

6 Things to Keep in Mind When Moving to a New Area

cassidy@getvyral.com (Andrea Manroe) — Thu, 20 Jul 2017 12:34:00 -0700

Whether you are moving to a new city or a new neighborhood, there are six things you need to remember before you begin the moving process.

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Whether you are moving to a new city or simply a new area, there are a few tasks that you need to remember before you make your move.

1. Check if the bank you use has a branch in your new area. If there isn’t a branch in your new area, then you need to research which bank to move your accounts to.

2. Consider your medical needs. Have your current doctor forward your prescriptions to a pharmacy in your new area. Make sure you keep that doctor’s phone number in your contacts so that if your new doctor needs past medical records, you will be able to call with questions. You should also see if your medical insurance transfers to your new area and look for doctors and hospitals that accept your insurance.

3. Don’t forget to transfer other things like gym memberships, home security, or any other associations that you pay a fee for. Transfer those to your new address and get copies of your children’s school records. Keep in mind that some memberships come with a cancellation fee if you leave early, so factor those fees into the cost of your move.

Factor cancellation fees into the cost of your move.

4. Raid your kitchen about a month before you move. Consider using the items in your pantry and freezer early so that your move will be more efficient.

5. Check your vehicle. If you need to drive a long distance during the move, make sure you get an oil change and that the tires are safe.

6. Turn off your utilities and switch them to your new address. Some providers, especially cable companies, may have a wait time before they can come out to your property. Make sure that you call early so that you don’t have to wait for any services or utilities to turn on at your new house.

If you take care of these six things, your move will be much less stressful. If you have any other questions about moving or buying a new home, just give me a call or send me an email. I would be happy to help you!

3 Things Every First-Time Homebuyer Should Know

cassidy@getvyral.com (Andrea Manroe) — Fri, 16 Jun 2017 07:54:00 -0700

Buying your first home can be an incredibly exciting time. However, it requires a huge commitment and a sizable investment.

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I want to share my three top tips to help first-time homebuyers protect themselves during this crucial period:

1. Know what you can afford

Your mortgage is only a part of what you will need to pay when you buy a home. Homeownership comes with plenty of other expenses, including closing costs, taxes, property insurance, maintenance costs, and homeowner association fees.

Once you have a clear idea of how much all of these items will cost, you can compare it to your current monthly expenses. Then you can figure out the kind of home you can honestly afford without getting carried away and without getting bogged down in debt.

2. Choose your lender wisely

Choosing a lender is not something you should base only on the lowest rate. A competent and trustworthy lender will offer you advice on how to improve your credit and also help you take advantage of special homebuyer programs that might benefit you.

But how do you find the right lender specifically for you? It's often best to get recommendations from friends who have already worked with a lender or from a real estate agent you trust.

An inspection will cost about $300, but it can save you thousands.

3. Don't overlook the details

There are many details that go into buying a home, and missing any of them can be a costly mistake. I always advise buyers to get a professional inspection done on their home, separate from the appraisal. An inspection will set you back about $300, but it can save you thousands of dollars down the line, and it can even prevent you from making a decision to buy a home that you would later regret.

A second example is understanding the fine print in the various contracts you will be signing. If there's anything that isn't clear to you, talk to your real estate agent and have it spelled out.

The process of buying a home can be intimidating, and that's why professional real estate agents are there to help. These three quick tips are only the start of the things you need to watch out for when buying your first home.

If you need more advice or you are ready to start looking for a home, give me a call or send me an email. I love working with first-time homebuyers, and I can help you get your perfect new home with minimum hassle.

5 Ways to Secure a Down Payment

cassidy@getvyral.com (Andrea Manroe) — Fri, 14 Apr 2017 13:30:00 -0700

Today I want to share five great ways to get the down payment you need to purchase your dream home.

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There are five creative ways you can get the down payment you need to purchase your dream home.

First, if you’re getting married, crowdsource instead of doing a wedding registry. You can raise money for your down payment by using sites like Kickstarter or Feather My Nest.

Next, you can ask the seller to help with closing costs. There are a few different options with seller concessions, so make sure you ask your real estate agent what the best strategy is to get that extra financial nudge from a seller.

You can also look into government options. HUD housing offers different down payment and closing costs assistance depending on what you qualify for.

You should also check with your employer to see if they offer Employer Assisted Housing or EAH, which can help with down payment assistance. Access to EAH sometimes depends on the area you are looking to buy in, but it’s worth checking out.

Finally, check with your lender. They might be able to find a down payment assistance program that will work for you.

You don’t need a 20% down payment to purchase a home.

It’s a common belief that you need 20% for a down payment. However, you could get into a new home for as little as 3.5% down. To get a better idea of what your options are, make sure you talk to your lender and your real estate agent.

If you have any questions about purchasing or selling a home or you have any other real estate questions, don’t hesitate to give me a call or send me an email. I’m always happy to help!

6 Questions That Answer “Should I Buy My First Home?”

cassidy@getvyral.com (Andrea Manroe) — Mon, 3 Apr 2017 10:53:00 -0700

It is time to buy your first home or continue to rent? I’ll help you answer that today.

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When deciding between buying your first home or continuing to rent, there are six questions you need to ask yourself.

1. Are you financially ready? You’ll need money for a down payment and for closing costs, so you need to make sure that is set aside. It’s also a good idea to take a look at your credit score. Homebuyers can get loans with scores as low 620, but a score of more than 700 will get you the best rates.

2. Are you prepared to make compromises? When buying your first home, you might not be able to afford to live in your dream neighborhood or get the optimal amount of space. You need to be ready to look at different neighborhoods and compromise on space.

3. Are you emotionally ready? Homeownership is very different than renting. If problems arise, they are your responsibility. Several things can pile up all at once that require your attention and finances. Make sure you’re ready to handle the stress.

4. Will owning pay off in the long run? The good news is your mortgage payment might be less than your rent, but even if it isn’t, you’ll be building your wealth in the long run instead of your landlord’s.

You need to be ready to look at different neighborhoods and compromise on space.

5. Have you outgrown renting? If your family is growing and you need more space, upgrading to a larger rental might not be in your budget. Instead, you can purchase a home that has the space you need.

6. Has your income increased? If you’ve recently seen an increase in your income, buying is a great option for a tax shelter.

If you are looking to buy or sell a home or if you have any other questions, please don’t hesitate to give me a call or send me an email. I’m always happy to help!

What Should Homebuyers Look for When Buying a Home?

cassidy@getvyral.com (Andrea Manroe) — Tue, 7 Mar 2017 08:51:00 -0800

If you’re in the market to buy a new home, what are the important things you need to look for?

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If you’re a homebuyer out shopping for a new home, what should you look for in that home?

First, you should keep the resale value of the home in mind, or the price and affordability for future buyers. You should then consider the neighborhood it’s located in and the size of the home.

Next, look for a structurally sound home. Look at the “guts” of the home and not just the design or the materials used in the construction. Examine factors like the plumbing, the electrical framework, and how much life is left in the roof. And don’t forget to order a thorough home inspection.

Hire a real estate agent that will help you know what you need to know.

Also, consider what kinds of costly repairs may be required on the property and how that will play in negotiations. Look at the condition of the roof, the plumbing, the electrical system, the heating and air conditioning systems, etc.

Finally, you need to hire a real estate agent that will show you what things you need to look for when buying a new home.

If you have any questions about this topic or are in need of an agent to help you buy or sell real estate, please don’t hesitate to give me a call or shoot me an email. I’d be glad to help you.

What Is an FHA Loan and How Can It Benefit You?

cassidy@getvyral.com (Andrea Manroe) — Wed, 22 Feb 2017 09:06:00 -0800

If you’re looking to buy a home, you might consider taking out an FHA loan. I’ll go over what an FHA loan is and why it might be a good option for you as a buyer.

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If you’re looking to buy a home, you’ve probably heard the term “FHA loan.” Today I’ll go over what an FHA loan is and how it can benefit you as a borrower.

An FHA loan is a mortgage that is insured by the Federal Housing Commission that requires a lower down payment on the condition that buyers pay property mortgage insurance as a part of their monthly mortgage payment.

The property mortgage insurance allows lenders to offer loans to borrowers at much more attractive interest rates with lower down payments. You can qualify for an FHA loan with a lower credit score as well.

The minimum down payment on an FHA loan is 3.5%, but it can be as high as 5%. Borrowers can use their own savings, a gift, or a grant for their down payment. The FHA does allow borrowers to get assistance from their lender, the builder, or the seller to help with closing costs. Although, if the lender helps with closing costs, they typically charge a higher fee on the loan.

The FHA is an insurer, not a lender, so it’s important to get your FHA loan from a qualified FHA lender.

FHA loans also require a two-part mortgage insurance. The first part is paid at the close of escrow, which is equal to 1.75% of the purchase price and can be rolled into your loan. The second part is paid during the life of your loan.

The FHA also has a special loan product for borrowers who are purchasing a private property that may need repairs called the 203K.

The FHA is an insurer, not a lender, so it’s important to get your FHA loan from a qualified FHA lender.

If you are looking to buy or sell a home, or if you have any other real-estate related questions, please don’t hesitate to give me a call or send me an email. I’m happy to help!

What You Need to Know About PACE & Hero Loans

cassidy@getvyral.com (Andrea Manroe) — Wed, 14 Dec 2016 11:21:00 -0800

Have you ever considered seeking PACE or Hero Program financing for your home? It's a great government incentive, but it's important to know the finer details before taking on this loan.

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Today I wanted to take a moment to talk about PACE loans—also known as Hero loans.

PACE financing stands for 'property assessed clean energy' and provides local governments the opportunity to provide financing for homeowners that want to do projects that are either energy efficient, water efficient, or integrate renewable energy products into their home.

In California, the Hero Program is the most well-known opportunity for homeowners to receive this type of financing. It's considered a tax lien in first position on the property, meaning upon the sale of the home, it will be paid prior to any other creditors involved in the property being paid. This even includes the lender on the home mortgage.

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PACE financing lets local government loan money for energy-efficient home projects and features.

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This first position is important because the Federal Housing Financing Agency won't allow Freddie Mac and Fannie Mae to lend on houses that have Hero liens in the first position on the mortgage. This is very important because it can make it difficult for homeowners to refinance on the property or new owners to get financing when the home is sold.

Additionally, it's important for people who get Hero financing to contact their mortgage lender right away so they can start taking money to pay that lien into an impound account. If not, you could get behind in your payment and end up having to pay double each month in order to catch up.

I hope this helped you understand PACE financing better. If you have any other questions about this financing or you're thinking about buying or selling a home, don't hesitate to give me a call or send me an email today. I look forward to helping you!

Merry Christmas and Happy New Year!

cassidy@getvyral.com (Andrea Manroe) — Wed, 14 Dec 2016 09:34:00 -0800

In addition to wishing you a merry Christmas and a happy New Year, I want to thank you for supporting my business.

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In light of the holiday season, today’s message is one of thanks.

First, I want to wish you a very Merry Christmas and a Happy New Year. Second, I want to thank you for supporting my business throughout 2016. I appreciate your referrals very much, and I look forward to doing business with you in the future.

If you’re looking to buy or sell real estate in San Diego in 2017, just visit my website and we’d be happy to get in touch with you. Thanks again, and Merry Christmas!

How Do Mello Roos Taxes Work?

cassidy@getvyral.com (Andrea Manroe) — Fri, 18 Nov 2016 08:45:00 -0800

Why is it important to know about Mello Roos taxes? If your home was built after 1982, they affect how much you pay each month on your mortgage.

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Mello Roos taxes are a topic that every home buyer should be aware of when looking for a property. Mello Roos taxes are a result of the after effects of Proposition 13 being passed in 1978. Because of this proposition, local governments were restricted in the funds they received for property tax increases.

Therefore, in 1982, in order to find another source of funding, California passed the Community Facilities Act, which enabled local governments to impose Mello Roos taxes, typically on new developments.

Mello Roos taxes are “parcel taxes.” Each parcel of property (or lot) is required to pay their portion annually, and the Mello Roos taxes are determined by the original purchase price of the property.

The original agreement was between property developers and the local government, but the developers passed that tax on to the home buyer and each successive buyer after that until it has been paid in full. Typically, Mello Roos taxes take 20 to 30 years to pay off and because they are a parcel tax, it’s important to know that they are paid in addition to your regular property taxes; they are not part of them.

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Mello Roos taxes are parcel taxes.

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When you’re looking for a property, if you are trying to find out whether you do in fact have to pay Mello Roos taxes, listen to this. Mello Roos taxes can be referred to as “CDFs,” “other fees,” or “total fees.” Sometimes they are part of your HOA fees too, so it’s important to know how much your HOA fees are and how much the Mello Roos taxes are.

Your Mello Roos taxes will ultimately affect how much you can afford to pay for a property. Calculate any potential Mello Roos taxes to make sure you can afford them. Don’t make an offer on a property without considering what potential Mello Roos taxes could do to your payment.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

How Andrea was Determined to Help Jose

cassidy@getvyral.com (Andrea Manroe) — Mon, 31 Oct 2016 13:45:00 -0700

“It was very positive, she was very knowledgeable, I’d never purchased any property. She was very knowledgeable, she gave me a lot of options, she was very helpful in finding a property that fit me. She knew what I needed before I even knew. Towards the end, right at closing I had some issues with my credit. She did all she could to basically encourage me not to quit and between her and the loan officer we were able to get the mortgage and everything taken care of. Very encouraging and she didn’t quit at all on me when I ran into that problem at the end.”

Why Are Seller Disclosures So Important?

cassidy@getvyral.com (Andrea Manroe) — Fri, 28 Oct 2016 14:30:00 -0700

If you are selling your home, you need to disclose any issues there are in the property. Creating a regular home maintenance schedule can help you avoid any trouble during your home sale.

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If you did an Internet search for real estate lawsuits, you would encounter many cases involving seller disclosures.

When you sell your property, you are required to disclose any material facts that you are aware of regarding the property. For example, I would have to disclose that we can hear the tones and announcements of the local high school because we live so close to it.

Of course, the majority of those lawsuits involve much more ominous omissions on the behalf of the seller, but to be safe, you need to disclose anything you know about your property. Therefore, it is incredibly important to keep a regular maintenance plan in place. By keeping up with home maintenance, it is pretty likely that you will have fewer issues to report on your disclosure.

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A home inspector can give you a list of items to work through.

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If you are the type of homeowner that waits until the dishwasher breaks or waits for something to be obviously broken, we recommend having a home inspector come out to your property every five years. They will give you a list of issues that you can work through before you sell your home.

Finally, I recommend that you get a home warranty for your buyers that will cover the major items in your home, such as the roof, appliances (if they are being sold with the property), the pool, and other major systems.

If you have any questions about home maintenance or seller disclosures, give me a call or send me an email. I would be happy to help you!

Breaking Down the Credit Repair Process

cassidy@getvyral.com (Andrea Manroe) — Mon, 10 Oct 2016 11:29:00 -0700

Credit issues can be major problem for anybody looking to obtain home financing. Luckily, Ashton and the Credit Repair Heroes are here to help.

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When buying a home, your credit score can have a major impact on your ability to get the financing you want. Unfortunately, bad credit scores are all too common for some. There are ways to make your score better, however, and today I’m speaking with Ashton D. Safaie of Credit Repair Heroes about what his company does to help clients repair their credit.

Ashton’s job at Credit Repair Heroes involves working with credit bureaus on the client’s behalf, removing any derogatory factors that affect the client’s credit score, and correcting any inconsistencies on their credit report.

Ashton tends to work with clients who are having trouble getting home and car loans or even having trouble qualifying for credit cards or apartments. Bad credit or inconsistencies on their credit reports are usually the cause of these problems, and Ashton helps these clients remedy them.

In order to help his clients, Ashton communicates with credit bureaus and mails letters directly to them, disputing all of the negative or incorrect information on their credit history. From there, he’ll work with the bureaus to have that information corrected or just flat-out deleted.

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Repairing credit is like going to court—would you represent yourself?

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Ashton admits that his clients can do all of this themselves; however, many times he finds that many simply don’t have time between juggling full-time jobs and family life. Keeping in constant communication with credit bureaus and sending new information is the key to success, but it’s also very time consuming. Ashton likens the process to going to court—anybody has the right to represent themselves in court, but it’s more effective and less risky to hire a professional to argue on your behalf.

What makes the Credit Repair Heroes different from other companies like them is that they are very cautious in enrolling clients and are 100% referral-based, but they only end up working with about 45% of the clients that are referred to them. This is because even though a lot of people would like to repair their credit, they’re not always in the correct position for it. Sometimes, potential clients need to take steps to be able to enroll so that they can get the results that they’re looking for. This is why the Credit Repair Heroes offer a free credit consultation to make sure that these clients understand what they can expect from the program.

The time it takes for Ashton and his team to repair a client’s credit varies on a case-to-case basis, but their program runs month-to-month. This means that there are no lengthy agreements or long-term contracts, and clients can opt out of the program whenever they feel satisfied with their results. On average, Ashton estimates that a client will stay in the program for about six months.

If you have any other questions for Ashton about repairing your credit or the Credit Repair Heroes team, give him a call at 619-948-5985 or send him an email at ashton@creditrepairheroes.com.

As always, if you have any questions about buying or selling real estate in our area, give me a call or send me an email. I’d be happy to help you!

How the HomeSnap App Makes Buying and Selling Easy

cassidy@getvyral.com (Andrea Manroe) — Tue, 27 Sep 2016 13:06:00 -0700

With the new HomeSnap App, you’ll be able to handle all of your real estate needs from your phone.

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I have a great new product I want to tell you about. It’s called the HomeSnap app, and it’s the most accurate mobile application to use for your real estate search in San Diego.

The HomeSnap app is important to us in San Diego because, previously, third-party apps did not necessarily syndicate with our local MLS, which is called the “Sandicor MLS.” The Sandicor MLS has now partnered with HomeSnap to give current real-time data to both buyers and sellers so that when you’re doing your Internet search on your mobile app, you’re able to get real, up-to-date data.

Many of the third-party apps that buyers are currently using in San Diego aren’t updated frequently enough. As an example, I just had a buyer send me five properties yesterday for our home tour this weekend, and all five of those properties were either already sold, pending under contract, or off the market.

According to the third-party app that they were using to search for properties, though, all of them were still being presented as available for purchase. You won’t have that problem with the HomeSnap app.

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With the Homesnap app, you’re able to get real, up-to-date data.

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What else can the HomeSnap app do for you?

You can use its messaging feature to send information of a property you might be purchasing to your loved ones so they can check it out too.
You can also use it to communicate in a messaging thread with your agent.
You can use it to take a picture of any property, even if it’s not on the market, and it will give you data on that particular property. If it’s on the market, it will pull data from the MLS. If it’s not on the market, it will pull data from the county records.
You can send a property to your Realtor if you’re interested in having them look for more information on that particular home.

To download this wonderful new app, click on this link and just follow the instructions.

If you have any questions or are looking to buy or sell real estate, please don’t hesitate to give me a call or send me an email. I look forward to helping you in any way I can.

Funding a Renovation without Cash or Credit Cards

cassidy@getvyral.com (Andrea Manroe) — Tue, 13 Sep 2016 08:31:00 -0700

Renovation loans are a great financing option for homeowners who want to upgrade their home without moving or putting remodeling costs on their the credit cards. I talked to a lender expert to break down this type of financing.

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To help me discuss renovation loans, I've brought in Peter Lama from Prime Lending.

Renovation financing is for homeowners who are looking to upgrade their house rather than move. They can include all the costs into the refinance without taking out a second mortgage or putting the costs on a credit card. It also works for someone wanting to buy a home that's not up to Fannie Mae/Freddie Mac standards; they can repair the property and include the repair costs into the loan.

VA loan buyers can use this financing too. Prime Lending actually has 13 different programs for renovation, including portfolio products that they specialize in like jumbo products, FHA, VA, and escrow hold-backs for properties needing small repairs.

For refinancing, you can apply for a loan and pull out the cash that you need to factor in on top of the balance. The appraised value will be the future value after the repairs; the appraiser evaluates the cost of the property before the repairs, then factors in the bids for those repairs. You gain equity in the property as you improve it.

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You can get renovation financing for your current home or a new home.

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The qualification process is the same in that you'll still be qualified off of your credit and income, but the process is slightly different. For a renovation loan more people are involved, like the contractor who will provide bids to the lender to help figure out what the loan amount will be.

The process of a typical renovation loan can usually be closed in the normal 30- to 45-day period if contractors are efficient with their bids. Since the contractor is such a critical piece, it could be advantageous for the buyer to have a contractor ready to place bids on a property if they're looking to use this type of financing.

If you have any questions for Peter about renovation financing, he can be reached at 949.254.9356 or you can email him at PLama@PrimeLending.com.

As always, if you have questions about real estate or the California real estate market, give me a call or send me an email. I'd love to help you out.

How Andrea Was There To Help with Laura’s Transaction

cassidy@getvyral.com (Andrea Manroe) — Mon, 29 Aug 2016 12:50:00 -0700

“The results I got were the purchase of our brand new home that we are very pleased with and a neighborhood that we like. We found the house on a Thursday through a website Andrea had sent to us and it was a builder close-out so we had to go the next day to process paper work. And with very little notice she was able to go and help support us through that process. “

How Andrea Negotiated on Behalf of Anna

cassidy@getvyral.com (Andrea Manroe) — Mon, 29 Aug 2016 12:48:00 -0700

“The results were very positive. It was a challenging transaction because the seller was making it a little rough for us. But it was the house that I wanted and I had communicated that to Andrea and I told her that I was willing to meet the seller’s demands up to a certain point and she used her negotiation skills to get us what we wanted. And I think all parties walking away from the deal very satisfied and very happy with the results thanks to Andrea’s professionalism and her skill at negotiating. She kept us up to date every step of the way. We were never left with lingering questions. If we had a question she would get the answer for us. She was with us, not just with the business, she was here physically with us every step of the way. I just felt like it made all the difference in the world. She was very professional, very knowledgeable, and I could tell that she really loves what she does. Her clients are priority for her.”

A Simple Plan for Buying a Home with Student Loan Debt

cassidy@getvyral.com (Andrea Manroe) — Fri, 26 Aug 2016 09:22:00 -0700

Education is and always has been a key to increasing your standard of living. However, in the last decade, tuition costs have tripled, which has made it hard for new graduates to attain homeownership. Here’s my outlined battle plan for overcoming this obstacle:

1. Accept that the good old days are over. It used to be that if lenders saw that your loan was in deferment, they would consider that during the underwriting process. Now, lenders are looking at your entire loan balance as a whole when considering you for a loan.
2. Start getting a student loan payment plan in order. Lenders would like to see that you’re making a reasonable payment relative to your income and loan amount.

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Accept that the good old days are over.

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3. Pay down your overall debt. Student loans generally have a six to 12 month deferred payment period. Use this time to pay your debt! The goal here is getting your debt-to-income ratio below 43% at maximum, and preferably below 36%. Doing this will also help you in raising your overall credit score.
4. Consider buying sooner rather than later. If you buy now, you’ll be able to start building your equity, stop making rental payments, and be less likely getting caught needing something bigger if and when your family size increases.

If you have any further questions about buying a home with student loans, please don’t hesitate to reach out to me. Just give me a call or send me an email and I’d be happy to help.

Will San Diego’s Seller’s Market Continue?

cassidy@getvyral.com (Andrea Manroe) — Mon, 15 Aug 2016 14:17:00 -0700

Today I’d like to give you a quick market update for San Diego.

Home prices throughout California continue to outpace the rest of the nation. Here in San Diego, the low interest rates are continuing to keep prices high. According to CoreLogic Statistics, home prices in San Diego have risen 6.3% in the last 12 months.

We’re expecting the seller’s market to continue.

Median home prices have reached $490,000. The pre-recession peak was $517,000 in November of 2005. What does this mean for buyers? Because of the Brexit decision in June, interest rates are expected to remain low. For sellers, the combination of low interest rates and low inventory—right now we’re seeing less than three months’ worth of inventory for sale on the market—means that we’re expecting to see the seller’s market continue.

Until next time, if you’ve got any questions about our market please feel free to give me a call or send me an email. I’d be happy to help you.

How Andrea Found Mixim a Home

cassidy@getvyral.com (Andrea Manroe) — Mon, 8 Aug 2016 12:41:00 -0700

“Really good, we were able to find a house. Along the way she was always willing to take us to any home we wanted to see, she was clear with us about financing. She was very accessible, anytime we needed or had a question.“

Get Answers to All of Your Real Estate Questions

cassidy@getvyral.com (Andrea Manroe) — Tue, 19 Jul 2016 13:26:00 -0700

Thinking of selling? Get a free home valuation

Thinking of buying? Search all homes for sale on the MLS

I’m eager to share some exciting news with you all today: I’ll soon be passing my real estate expertise onto you through my new video blog!

Each month, I’ll send out two video emails addressing trends in local real estate as well as some general tips on the market. I’ll also discuss changes around lending and title industries, as each of these industries are interrelated and it’s important that we understand all of them in order to succeed in the real estate business.

OTHERS WITH SIMILAR QUESTIONS WILL BENEFIT FROM THE ANSWERS.

Rather than simply guessing what’s on your mind, I’d like to invite all of you to submit questions that you may have about real estate. Are there general concepts that I can clear up for you? Are you curious about how your specific area is doing in the market? I’d love to answer your specific questions because I know that there are others with similar questions who will benefit from the answers as well.

Reach out to us with your real estate questions by giving us a call or sending us an email and I’ll answer them on the next video blog. I look forward to hearing from you!

How Andrea Manroe Got Nicole a Great Deal

cassidy@getvyral.com (Andrea Manroe) — Mon, 11 Jul 2016 14:22:00 -0700

“I got a house! And we got a really good deal. She participated a lot in the mortgage side as well, like making sure things were going smoothly on that end. I was confused about some things, she would clarify for me. She was good, all over, helping us in all areas. Even simple things, like even putting dates into my calendar. So whatever things we had, she would log it in. Always looking out for houses, and then always able to meet to take a look at them. So very flexible. “